No one has ever created gold of absolute purity. 999.99 fineness (or the five nines) is the highest purity that can be possibly attained. But only a few countries regularly produce or refine gold of such purity that it sets the global standard.
Swiss Refinement: The Gold Standard Without a Single Mine
Although Switzerland doesn’t have any gold mines, it has gained a good reputation when it comes to refining. The country’s modern gold processing facilities set the standard for the whole industry by turning ore mined in other countries into 99.99%-pure bars. The most famous refining facilities are located in Metalor and Valcambi. Thus, the words “Swiss gold” have become something of a household name for high-purity yellow metal bars and jewelry.
China’s Gold Dominance: Quality Meets Quantity
Not surprisingly, the second country with the highest quality of gold is China. By the way, it stands out not only in terms of quality, but quantity as well. China produces even more gold than India. Cutting-edge refinery technologies are used by private and public mints to guarantee the purest quality of metal. The Chinese modern market is rapidly growing and increasingly focusing on premium bullion, as well as large-scale exploration, including under the ocean floor.
American Gold: Reliability from Nevada to the U.S. Mint
The USA possesses great resources of gold in its vast belts in Nevada. The Mint Bullion coins are especially valued internationally for the highest purity rates and strict tests. The country’s refining practices, assaying protocols, not to mention lab testing are among the best in the world. Thus, every Buffalo or American Eagle coin proves the great reliability of gold produced in the U.S.
Canadian Gold: Ethical Sourcing and Traceability
Canadian gold is mined primarily in the country’s western provinces and processed according to some of the world’s strictest mining and environmental regulations. The Royal Canadian Mint, a pioneer in innovation, regularly produces coins and bars with a purity of 5:9. Investors value this gold not only for its purity but also for its traceability and ethical sourcing.
Australian Excellence: The Perth Mint’s Green and Gold Standard
Australia remains an ideal of quality in the gold trade, thanks to its rich mineral abundance and advanced mining technologies. Australian bullion has always been among the finest in the whole world thanks to the Perth Mint renowned for its technical precision and high “green” standards.
Russia’s Gold Industry: Standing Strong on Vast Deposits
Finally, Russia is one of the major gold mining players in the world thanks to its own massive deposits in the Far East and Siberia. Russian refinery facilities comply with international standards, while the mining sector underpins domestic and global reserves. Despite the economic sanctions, it seems like the country’s yellow metal industry is standing strong.
The Ocean’s Golden Treasure: A Trillion-Dollar Challenge
Scientists estimate that over 20 million tons of gold are dissolved in the world’s oceans, and additional deposits are located on the seafloor, where extraction is extremely difficult (100 million metric tons of seawater should be processed in order to extract just 1 gram of the yellow metal). Therefore, land-based gold mining dominates global production.
The Future of Gold Mining: Deep-Sea Exploration and Licenses
China holds 5 international licenses for mineral research underwater. In particular, there’s one deposit near Sanshan Island that drew the attention of the Chinese. It may hold up to 1,450 tonnes of gold, and this isn’t just some optimistic estimate: near the underwater source lies a huge gold deposit on land. Another country looking into deep-water gold mining is Norway. The seafloor near Greenland is full of potential and is filled with rare earth minerals, zinc, copper, silver and other metals besides gold. The US, Brazil, Chile, and a couple of other countries are considering deep-sea gold sourcing too, but are pulled back by the extremely expensive technology needed for this.
Thus, most of the gold extraction occurs on land till this day. Some of the richest deposits are found in the following countries: Australia, Russia, Indonesia, South Africa, and the U.S. The Olertis team hopes to see one day some new methods of sourcing gold becoming possible. After all, who wouldn’t want a custom pendant made entirely from gold extracted from the ocean floor?
